The Cupertino, Calif., technology giant reported record sales, with an 11 per cent increase to nearly US$124 billion in the first quarter, driven by its new devices, despite supply-chain issues and chip shortages. On a conference call with analysts Thursday, CEO Tim Cook said Apple sees “a lot of potential” in the metaverse space, and pointed out that its App Store has over 14,000 augmented-reality kit apps. (The Logic)
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The Cupertino, Calif., technology giant reported record sales, with an 11 per cent increase to nearly US$124 billion in the first quarter, driven by its new devices, despite supply-chain issues and chip shortages. On a conference call with analysts Thursday, CEO Tim Cook said Apple sees “a lot of potential” in the metaverse space, and pointed out that its App Store has over 14,000 augmented-reality kit apps. (The Logic)
Talking point: Apple shares rose nearly seven per cent at close Friday. Its record sales showcase its ability to navigate the global supply-chain crisis, and the company said it expects sales in the next quarter to increase by a double-digit percentage. Although the iPhone maker has been less vocal about its virtual and augmented reality ambitions than other tech giants like Meta, some analysts have pointed to speculation of Apple entering the space as what’s driving its stock price in recent months.
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